Consensus 2017: Bitcoin Exchange Execs See Promise in Multi-Token Future

How would you build a bitcoin exchange if you had to start from scratch?

According to Adam White, head of Coinbase’s GDAX exchange, the answer is you wouldn’t want to simply support bitcoin alone.

“We’d design our exchange to be able to support more assets more quickly. There was this theory that network effects would aggregate everyone into one asset. We see that’s not the case,” he remarked at CoinDesk’s Consensus 2017 conference today in New York.

White went on to tell attendees:

“There will be hundreds if not thousands of digital assets in the coming years.”

The remarks come amid growing enthusiasm for blockchain-based cryptographic assets that offer different value propositions than bitcoin. Overall, the market for all cryptocurrencies is up 400% this year, rising to $88m from $17.6m in January.

Amidst this diversification, Ola Doudin, CEO of Dubai-based bitcoin exchange and brokerage BitOasis, remarked on the rise in enthusiasm for alternative digital assets, noting how its customers in the Middle East are now twice as likely to buy ether than bitcoin.

Tony Lyu, CEO and founder of Korbit, also discussed the challenges in listing new cryptographic assets, given the variety of new opportunities and the short attention spans of a small set of early adopters.


Read more ... source: CoinDesk

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